Given the circumstances in the following list, determine which stage of the industry life cycle individual investors would prefer. Include your rationale.

Life-Cycle Stage Introductory Expansion Mature a. The purpose of the investments is to b. Susan recently graduated from college c. Steve wants to use some of his lottery d. An investor wants a stock that pays supplement retirement income and is just beginning her career. winnings to speculate in stocks. dividends and also promises high future growth e. Skyler, who now is 12 years old, just received a small inheritance from her aunt.